Market information platform Santiment Recently, an XRP whale was revealed to be going all-in on XRP. After a significant purchase of crypto tokens. Notably, these purchases are said to be the largest ever since Ripple partially won. Securities and Exchange Commission (secretary).
XRP records 217 whale transactions.
Comments marked with an X (formerly Twitter) post The XRP Ledger processed 217 ‘$1 million whale transactions’ on the network on January 31. This is the largest transaction of this size ever recorded in a single day. Judge Analisa Torres delivered the ruling. XRP was not a security per se last July.
As Santiment mentioned, this occurrence is likely to have a positive impact on the price of XRP. XRP rose to $1 on the back of Judge Torres’ ruling, which strengthened the conviction of altcoin holders. Decided to double down. on their investments. If this similar scenario happens again, XRP is expected to experience a price surge soon.
The market intelligence platform also added some key signals that indicate that XRP is one of the better candidates for a rebound, assuming Bitcoin can stabilize for the rest of the week. Altcoins fell below $1. Critical support level at $0.5 After the recent decline in Bitcoin. However, it has surpassed that level again as the market shows signs of recovery.
Despite that XRP’s relatively stagnant price movement, these whales don’t seem to be worried. Santiment said wallets holding at least 10 million XRP tokens combined hold 67.2% of the available supply, the most since December 31, 2022.
Token price at $0.5 | Source: XRPUSDT on Tradingview.com
Binance freezes $4.2 million worth of tokens
Binance CEO Richard Teng The X post revealed that the cryptocurrency exchange froze $4.2 million worth of XRP, part of the proceeds from a recent XRP exploit. NewsBTC reported How the Breach of Personal XRP Accounts Happened Chris Larsen, co-founder of RippleThis resulted in over 213 million tokens being stolen.
Teng also mentioned that the Binance team will help recover the remaining funds in any way possible. He added that most of the funds in the exploiters’ external wallets are being closely monitored in case they attempt to deposit these tokens into Binance.
exploiter reported Some of these funds were laundered through cryptocurrency exchanges such as MEXC, Gate, Kraken, OKX, and HitBTC.
Featured image from Analytics Insight, chart from Tradingview.com
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